Dominion Energy Inc Stock Price, News & Analysis

Dominion Energy, Ørsted, and Eversource announced a deal for Ørsted and Eversource to charter Dominion's Charybdis, the first Jones Act-qualified offshore wind turbine installation vessel in the U.S. The vessel, expected to be ready by late 2023, supports the construction of the Revolution Wind and Sunrise Wind projects, generating over 1.6 gigawatts of renewable energy for nearly 1 million homes. The charter also enables support for Dominion's Coastal Virginia Offshore Wind project, contributing to job creation and economic growth while having no impact on regulated customers' bills.

The board of directors of Dominion Energy has declared a quarterly dividend of 63 cents per share, payable on June 20, 2021. Shareholders of record by June 4, 2021 will receive this dividend. This marks the 373rd consecutive dividend paid by Dominion Energy or its predecessor, demonstrating the company's ongoing commitment to returning value to its shareholders. The previous dividend was declared on January 22, 2021.

The Nuclear Regulatory Commission (NRC) has approved Dominion Energy's (NYSE: D) application to renew Surry Power Station's operating licenses for an additional 20 years. Located in Virginia, the power station supplies clean electricity to 419,000 homes and significantly contributes to the state's carbon-free electricity generation. This extension aids in meeting the Virginia Clean Economy Act's zero-carbon requirements by 2045 and supports over 900 jobs. The renewed licenses allow Surry to operate until 2052 and 2053, ensuring reliable energy for Dominion's 2.7 million customers in Virginia and North Carolina.

Dominion Energy (NYSE: D) reported a net income of $1.0 billion ($1.23/share) for Q1 2021, a significant improvement from a $270 million loss in Q1 2020. Operating earnings rose to $893 million ($1.09/share) compared to $788 million ($0.92/share) in the prior year. The company maintains its Q2 2021 operating earnings guidance of $0.70 to $0.80/share and affirms its full-year guidance of $3.70 to $4.00/share. This positive trend reflects strong performance and effective economic hedging activities.

The Virginia State Corporation Commission approved nine new solar projects for Dominion Energy Virginia, totaling nearly 500 megawatts, enough to power 125,000 homes. This initiative supports the Virginia Clean Economy Act's goal of net zero emissions and the production of 16,100 megawatts of renewable energy by 2035. Six of the projects are based on power purchase agreements, while three are owned by Dominion. The projects are expected to create approximately 750 jobs and generate over $100 million in economic benefits for Virginia.

Dominion Energy Virginia is inviting proposals for solar, wind, and energy storage projects as part of its commitment to the Virginia Clean Economy Act (VCEA). This initiative aims to achieve net zero greenhouse gas emissions by 2050. The company is focusing on developing up to 1,000 megawatts of solar and wind energy, as well as 175 megawatts of small-scale solar projects. They emphasize environmental justice and community engagement in project development, with deadlines for submissions set for May 20, 2021. These projects could generate enough energy to power nearly 2 million homes.

Dominion Energy recognized six employees for their volunteer contributions during 2020, with a total donation of $30,000 from the Dominion Energy Charitable Foundation to each honoree's chosen charity. Noteworthy volunteers include Tara Brady, Armond Brown, and Jennifer Ford, among others. In 2020, Dominion employees dedicated 61,000 hours to charitable activities, adapting efforts to comply with COVID-19. The annual tribute ceremony will be virtual on April 21, 2021. Dominion Energy contributed over $58 million to community causes in 2020.

Dominion Energy is investing in hydrogen as part of its clean energy transformation, aiming for net zero greenhouse gas emissions. Hydrogen, produced with renewable sources, can replace natural gas while emitting fewer to zero emissions. The company is conducting pilot projects in Utah to blend hydrogen into its gas distribution systems. It is also a lead sponsor of the Low Carbon Resources Initiative, committing $100 million over five years to R&D in clean energy technologies. This innovation is expected to reshape the energy landscape over the next 5 to 10 years.